Total monthly cost of ownership
Cost to Own a Home in Fallon, Nevada
A $263,000 home here costs
$2,024per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $86,500 a year.
A standard mortgage calculator would have told you $1,434. The real number is $590 higher every month, 41% more than the payment most buyers budget for.
Compare Churchill County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Fallon against Churchill County and Nevada
| Measure | Fallon | Churchill County |
|---|---|---|
| Median home value | $262,700 | $298,000 |
| Median property tax | $1,661 | $1,670 |
| Effective tax rate | 0.632% | 0.560% |
| Median gross rent | $1,194 | $1,203 |
| Population | 9,371 | 25,614 |
The weather behind that power bill
Fallon sits in Churchill County, which averages a high of 96.2°F in its hottest month and a low of 20.4°F in its coldest, with 4.94" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 1,004 cooling and 5,088 heating degree days, which is what sets the $118 electricity line above.
See the full climate breakdown for Churchill County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Churchill County
No other places of this size are published in Churchill County.
Full Churchill County cost breakdown · Every county in Nevada
Talk to someone who works this market
These are Fallon averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Fallon every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Fallon I already own here and may sell
Common questions
How much does it cost to own a home in Fallon?
A $263,000 home in Fallon, Nevada costs approximately $2,024 per month with 20% down at 7.24%. That is $1,434 principal and interest, $139 property tax, $46 homeowners insurance, $186 utilities and $219 set aside for maintenance.
What is the property tax rate in Fallon?
Fallon has an effective property tax rate of 0.632%, based on a median home value of $262,700 and median real estate taxes of $1,661. That is higher than the Churchill County average of 0.560%.
What is the average home price in Fallon?
The median owner-occupied home value in Fallon, Nevada is $262,700, against $298,000 across Churchill County.
Is it cheaper to rent or buy in Fallon?
Median gross rent in Fallon is $1,194 a month, against $2,024 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Fallon?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Fallon, Nevada at today's rate takes a household income of roughly $86,500 a year. That covers the full $2,024 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Fallon, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Nevada.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.